Electric Metals USA Ltd Stock Price, News & Analysis

Electric Metals (USA) has announced a stock option grant under its Omnibus Equity Incentive Plan. The company granted 7.5 million stock options to directors and officers, structured as follows: 1 million options vesting on February 1, 2025 at C$0.25 exercise price; 6 million options vesting based on performance metrics at C$0.25 exercise price; and 500,000 options vesting immediately at C$0.35 exercise price. All options have a five-year expiration term from the grant date.

Electric Metals (USA) (TSXV:EML)(OTCQB:EMUSF) has announced successful metallurgical testing results from the Emily manganese deposit in Minnesota. Kemetco Research Inc. conducted the testing, demonstrating the ability to produce high-purity manganese sulfate monohydrate (HPMSM) from samples recovered during the 2023 drill program. Key highlights include:

- Manganese extraction rates exceeding 95% using sulfuric acid leaching
- Effective impurity removal and crystallization yielding HPMSM meeting international standards
- Potential for producing a full suite of manganese products, including EMM and EMD
- Strong foundation for future development of a full-scale processing plant

The Emily deposit is the highest-grade manganese deposit in North America. This development is important as the U.S. and Canada currently rely on imports for high-purity manganese chemicals, with China producing 96% of global HPMSM.

Electric Metals (USA) (TSXV:EML)(OTCQB:EMUSF) has announced changes to its Board of Directors. Megan McElwain and John Kutkevicius have resigned from the board. The company has appointed Michèle McCarthy and Sylvia Chen as independent directors.

McCarthy, President of McCarthy Law Professional and Independent Review Inc., brings experience in corporate restructuring and regulatory compliance. Chen, Vice President of Finance at Dundee Precious Metals, offers expertise in finance across various sectors, including mining.

Additionally, Dr. Quinton Hennigh has been elected chairman of the board. CEO Brian Savage expressed gratitude to the departing members and welcomed the new directors, highlighting their valuable expertise for advancing the company's strategic objectives.

Electric Metals (USA) (TSXV:EML)(OTCQB: EMUSF) has announced its participation in the upcoming Battery & Precious Metals Virtual Investor Conference, scheduled for July 23rd through July 26th, 2024. The company will deliver a presentation on July 23rd at 12:30 PM Eastern. In addition to the presentation, EML will be available for one-on-one meetings with investors during the event.

Interested parties can register for the conference through the provided registration link. For those unable to attend the live presentation, an archived webcast will be made available after the event, ensuring that all interested investors can access the information presented by Electric Metals (USA)

Electric Metals (USA) announced the results of its annual shareholder meeting held on June 26, 2024. Shareholders approved the appointment of Baker Tilly WM LLP as auditors, expanded the Board of Directors to seven members, and elected all management's nominees to the Board, including Dr. Quinton Hennigh and Tyson Hall. A new omnibus equity incentive plan was also approved. Oliver Lennox-King retired from the Board, receiving thanks for his contributions. CEO Brian Savage expressed gratitude to Oliver and welcomed the new board members, highlighting their expertise. Dr. Hennigh, an economic geologist, and Mr. Hall, an executive with extensive global experience, are expected to advance the company's goals in high-grade manganese production. Additionally, 1,600,000 incentive stock options were awarded to directors at a strike price of $0.25 per share.

Electric Metals (USA) (TSXV:EML, OTCQB:EMUSF) announces that Dr. Quinton Hennigh and Mr. Tyson Hall are nominated for election as new directors at the upcoming annual general meeting on June 26, 2024. The additions are part of the company's strategic move to enhance its board with diverse skills as it advances the Emily Project, supported by a new NI43-101 technical report. The current Chair, Oliver Lennox-King, will not stand for re-election. Dr. Hennigh, a renowned geologist, and Mr. Hall, an experienced executive in specialty chemicals and mining, bring valuable expertise to the team.

Electric Metals (EMUSF) has filed an upgraded NI 43-101 Technical Report for the Emily Manganese Project in Minnesota, confirming it as the highest grade manganese resource in North America. Indicated resources increased by 20.9% to 6.2 million metric tons at a grade of 19.27% manganese, while inferred resources surged by 596.5% to 4.9 million metric tons at a grade of 17.50% manganese. The project saw 29 new drill holes, with 22 showing substantial zones of +25% manganese and 19 with significant intercepts of 35%-50% manganese. Current extraction tests exceed 95% recovery. The report, incorporating data from 2023 and historical drilling, supports the potential for further expansion and high-grade resource development.